Budget terms
Montgomery County, Maryland Budget Glossary
Budget terms can make simple questions harder than they need to be. The glossary defines Montgomery County, Maryland budget terms in plain English, with local context and source notes.
Last updated: 2026-05-19
26 source-linked terms. Independent and unofficial.
Frequently Needed Terms
These are the terms residents most often need when reading the main budget pages.
All Terms
A
- Actual Spending
A plain-English definition of actual spending and why it differs from budgeted or recommended amounts.
- Adopted Budget
A plain-English definition of adopted budget and when this site should use that label.
- Amended Budget
A plain-English definition of an amended budget and why budget figures can change after initial approval.
- Approved Budget
A plain-English definition of an approved budget and why it should not be mixed with recommended figures.
B
- Board Of Education Request
A plain-English definition of a Board of Education budget request and how it fits into county review.
C
- Capital Budget
A plain-English definition of Montgomery County, Maryland's capital budget and how it differs from annual operating spending.
- Capital Improvements Program (CIP)
A plain-English definition of Montgomery County, Maryland's Capital Improvements Program and how it differs from the operating budget.
- County Contribution
A plain-English definition of county contribution and how it differs from the total MCPS budget.
D
- Debt Service
A plain-English definition of debt service and why it appears in Montgomery County, Maryland's operating budget.
E
- Enterprise Fund
A plain-English definition of an enterprise fund and how fees or charges can support specific county activities.
F
- Fees
A plain-English definition of fees and charges in Montgomery County, Maryland's budget.
- FTE
A plain-English definition of FTE and why staffing counts are not always the same as headcounts.
- Fund Balance
A plain-English definition of fund balance and why it is not always free money.
G
- General Fund
A plain-English definition of Montgomery County, Maryland's General Fund and why it is not the same as every dollar in the budget.
- General Obligation Bonds
A plain-English definition of general obligation bonds and how they relate to capital projects and debt service.
- Grant
A plain-English definition of grants in the Montgomery County budget and why grant money may have restrictions.
I
- Income Tax
A plain-English definition of Montgomery County income tax and how it fits into local revenue.
M
- Maintenance Of Effort
A plain-English definition of Maintenance of Effort and how it affects local school funding.
O
- Operating Budget
A short definition of Montgomery County, Maryland's operating budget and how it differs from capital project spending.
P
- PAYGO
A plain-English definition of PAYGO financing and how it affects borrowing and annual operating resources.
- Property Tax
A plain-English definition of Montgomery County property tax and why a bill can change.
- Public Services Program
A plain-English definition of Montgomery County, Maryland's Public Services Program and how it relates to the operating budget.
R
- Recommended Budget
A plain-English definition of a recommended budget and why County Executive recommendations are not final budget action.
S
- Special Revenue Fund
A plain-English definition of a special revenue fund and why some budget money is restricted to a specific use.
- Spending Affordability Guidelines
A plain-English definition of Spending Affordability Guidelines and how they shape Montgomery County budget limits.
T
- Tax-Supported Funds
A plain-English definition of tax-supported funds and why they matter in spending affordability rules.
What People Often Misunderstand
A budget term is not a substitute for a source. If a page uses a number, the fiscal year, version, and official source still matter.
Some words sound interchangeable but are not. Recommended, approved, adopted, amended, and actual describe different points in the budget record.